Privatization is the
a. process of turning private enterprises into public enterprises
b. the same as nationalization
c. process of turning public enterprises into private enterprises
d. process of turning state-owned enterprises into public enterprises
e. process of turning sole proprietor enterprises into corporate enterprises
C
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Which of the following correctly represents the budget deficit?
a. Tax revenue - government purchases b. Tax revenue - government outlays c. Government purchases - tax revenue d. Government outlays - tax revenue e. Government outlays - tax revenue - transfer payments
If the exchange rate for Micromania's micros to United States's dollars is 50 micros = $1, then micros have appreciated when the exchange rate becomes
a. 100 micros = $2 b. 100 micros = $1 c. 25 micros = $0.50 d. 25 micros = $0.25 e. 25 micros = $0.75
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a. and firms paying wages above equilibrium to improve worker health both create frictional unemployment. b. creates frictional unemployment, while firms paying wages above equilibrium to improve worker health creates structural unemployment. c. creates structural unemployment, while firms paying wages above equilibrium to improve worker health creates frictional unemployment. d. and firms paying wages above equilibrium to improve worker health both create structural unemployment.
For the monopsonist, marginal expenditure is greater than the wage rate because the monopsonist
A) pays a wage higher than that paid in a competitive market. B) chooses the perfectly competitive quantity of labor. C) must increase the wage to all units of labor to attract more units of labor. D) must take the wage as given by the market.